Calculate FD Maturity Amount
Calculate FD (Fixed Deosit) Maturity Amount, Total Interest, FD With Tax
What is the Fixed Deposit (FD) Calculator?
The FD Calculator is a tool that you can use online to estimate the amount of money you will make from a fixed deposit. The interest rate on fixed deposits (FDs) is predetermined by the entities that are offering them (banks, NBFCs, and so on), and it is not influenced by the ups and downs of financial markets.
A fixed deposit (FD) calculator does what its name implies: it calculates how much money you can earn by making fixed deposits of a specific amount over a specific time period, using an interest rate that is fixed. Therefore, whenever you have some money to put into a fixed deposit, you can quickly and easily calculate your return on investment all by yourself with just the click of a button!
Benefits of Using the FD Calculator
The FD calculation is a time-consuming and laborious process that must be completed entirely by the individual. An online FD calculator can relieve its users of much of the pressure associated with calculating FDs and provide the result in just a few seconds. On the other hand, even before you make the actual investment, you might be able to get an estimate of how much your money will increase in value.
You can also use an online FD calculator to differentiate between the various FD offers made by different banks and NBFCs so that you can achieve the level of financial success you desire.
- 1. Being prompt and dependable.
- 2. Give the result in a matter of seconds.
- 3. It is completely free and easy to use.
- 4. There is no room for human error.
How to Determine the FD Maturity Amount?
The formula for calculating FD using simple interest is straightforward and easy to understand. It’s just P x T x R/100. where p represents the principal, T represents the time duration, and R represents the interest rate that is being offered by the various financial institutions. Let us explain,
You have a total of 1,000 rupees (Rs.) to put into a fixed deposit (FD); this amount serves as your principal; for the sake of argument, let's say you intend to keep the money in the FD for a period of 5 years; this period of time serves as your time duration; and R refers to the interest rate that the bank is offering on the principal amount; for the sake of argument, let's say the rate is 7%.
So now, P X T x R/100 = 1000 x 5 x 7/100 =415rs will be earned through your investment and after completing 5 yrs tenure bank will provide you, principal+ total interest earn= 1000+415= 1,415rs.
Now, let's take a look at the formula for compound interest on FD, P (1+R/100)^T. so if you take the same variable to calculate, 1000 (1+7/100) ^5
= 1000 (107/100)^5
I hope you understand how it works by using the formula.